JRL NEWSWATCH: “Russian central bank looks to spread risks across banking sector – Expert magazine” – Reuters

Cash, Calculator, Pen

“As Russian banks contend with foreign currency and payment headaches, the central bank [reportedly] is determined to redistribute funding and risks across the sector to safeguard those lenders [targeted by Western sanctions] …. The West imposed unprecedented measures against Russia’s banking sector after … [the] Feb. 24 [invasion of Ukraine], blocking major banks from … Central Bank of Russia file photo SWIFT … and limiting their ability to operate with foreign currencies. Resolving issues around external payments and setting up new correspondent relationships are among the [banking sector’s] most acute problems ….”

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